Even if there are bumps down the road, it won’t matter much as long as planes roll out the door

It sure is nice when your plane comes in early. For Airbus shareholders, it is something that could in theory happen more often.

Airbus results published Thursday restored some faith in the airplane making giant and its ability to become a cash flow machine—though it remains well behind arch rival Boeing in that regard. Airbus’s measure of free cash flow, closely watched by investors, was more than €6.2 billion in the fourth quarter, handily beating analysts expectations. It boosted its dividend and gave a bullish outlook...